Italian matrimonial property

Question: I am married and I am about to purchase an Italian property. Can I buy it in my name only? How does Italian matrimonial property law work?

Answer:  It is possible to buy an Italian property in your name only or jointly with your spouse. Additionally, if you buy it jointly with your spouse, you can choose if your spouse has the right to do whatever he/she wants with his/her property interest, or whether he/she shall ask for your signature to change the status of his/her Italian property right.

All the above depends on how you plan and structure the Italian property purchase before signing the purchase contract. It is essential to discuss this aspect with an experienced international legal expert a few weeks before signing the final purchase contract. In particular, depending on your goals and expectations, it might be necessary to prepare a short post-nuptial agreement, which might be applicable to your Italian property purchase only.

Here are some of the main options that might apply to your case.

Community of Italian Matrimonial Property

Under the community of property, regardless if only one or both spouses sign the final Italian property purchase contract, the property belongs to both of them equally (even if the other spouse does not sign any document and is not even aware of the purchase at all).

As a result of the purchase under the community of matrimonial property, neither of the spouses can sell, gift or otherwise independently encumber any portion of the property. In the event of resale, both spouses’ signatures are needed to complete the sale of the property or of a portion of it.

Upon death of either spouse, 50% of the property interest will go into said spouse’s estate.

The community of Italian Matrimonial Property usually applies by default to citizens and permanent residents of Common Law countries, such as the United States of America, Ireland, the U.K., and Australia.

Separation of Italian Matrimonial Property

If both spouses provide the notary with proper formal documentation, usually in the form of a nuptial agreement (see below), the spouses can buy the property under separation of matrimonial property. As a result, each spouse can buy the property entirely in his/her name or they can buy it jointly.

If they decide to buy the property entirely in the name of one of them, the buyer can then sell it, get a mortgage, gift it, etc., without the need of the signature from the other spouse. If they buy the property jointly under the separation of matrimonial property, each of them can, at any time, sell or gift his/her share without the other’s spouse’s consent.

Post-Nuptial Agreement

If you are married, are about to buy a property in Italy, and wish to buy it in your name only, check if you have already a nuptial agreement that would satisfy your needs. If not, you might be required to sign a post-nuptial agreement.

Depending on the country where you and your spouse live, your respective citizenship(s) and other circumstances, we can assist you reviewing your personal situation, your existing nuptial agreement, if any, or preparing a post-nuptial agreement, to make sure your Italian purchase is structured as you prefer.

A post-nuptial agreement for the purposes of Italian property purchase is usually a very short contract, less than a page. Of course more complex cases might require more terms and conditions.

We usually prepare it and email it to our clients with all the needed information for them to easily formalize it in the country where they live, without the need for them to travel to Italy. There is no need for them to go to the Italian Consulate or register the nuptial agreement with any Italian Municipality (“Comune”).

The above applies both to hetero and same-sex couples.

Usually the entire process takes three to four weeks and needs to be completed before the final agreement of sale is signed in Italy.

This is often very worth the advantages that can be achieved.

Click HERE for a summary of some of the main legal implications.

Conclusions

If you are married and are about to buy an Italian property, review the matrimonial property law applicable to your specific case circumstances. It might drastically affect your entitlement to remarkable tax reductions, family estate protection, and other advantages.

Plan in advance and allow enough time to make the estate planning adjustments needed to make sure the purchase structure fully satisfies your goals and expectations.

Related posts

• Italian property purchase jointly or separately
• Italian nuptial agreement
• Italian property purchase tips
• Same-sex couple Italian property purchase